How to Master MDM - Lessons Learned #1
The importance of the Elevator Pitch
Someone once asked me why he needed MDM. My response was “because you don’t trust your data".
In this series of blogs I’m going to give you my first-hand experience of what enterprises encounter on their journeys to MDM deployment. Some of you reading this may well sympathise with the examples I recall and to those that don’t I’d say don’t get complacent, because whatever stage you are at, you never know what’s round the corner.
It’s important not to lose sight of the business issue and get distracted by the technology. All project members should have the ‘elevator speech’ to hand at all times to keep the focus on the objective for MDM. A global MDM deployment can be a multi-year program and you should expect your executive stakeholders to move roles and change responsibilities during it’s lifetime.
Here’s some real-world examples:
Banking on it
A UK high street bank was not able to count the number of employees they had or make a distinction between the number of permanent staff and contractors as they did not have a single view of ‘Worker’. This presented issues when reporting headcount, security and controlling confidential information and also co-employment law.
A Global Pharmaceutical company was unable to say how many 3rd party vendors they did business with because they didn’t have a single view of ‘Supplier’. This meant that they couldn’t perform spend analysis and hence maximise their procurement leverage. Also poor data quality, resulting in a large number of duplicates, meant that straight through invoice processing regularly failed, requiring additional FTE headcount to resolve issues.
It’s not easy, so If you need help with your journey (or you’ve yet to embark) then Agile Solutions know MDM inside out, back to front, and upside down – which is handy because that’s the way data is often presented. You can trust us, not only to configure your software, but to set up your program for success and always be there to support the change management required to implement an effective data governance organisation.